Biocept Inc (NASDAQ: BIOC) is making a run for the top in the market early on this morning, and for good reason. The company announced that it has expanded its partnership offering.
As you could imagine, the potential for additional revenue here is exciting investors and pushing the stock on a run for the top. Today, we’ll talk about:
- The expanded partnership offering;
- what we’re seeing from BIOC stock as a result; and
- what we’ll be watching for ahead.
BIOC Announces Expanded Partnership Offering
As mentioned above, Biocept is climbing in the market this morning after the company announced that it has expanded its partnership platform. Since the press release was issued this morning, the stock has been working its way up.
In the release, the company said that expanded the Empower TCTM pathology partnership platform to now offer logal pathologists more capabilities. In particular, the expansion allows pathologists to analyze prognostic and predictive markers on CTCs from a liquid biopsy using immunocytochemistry methods.
BIOC said that the new offering supplements the previous capabilities of its proprietary pathology partnership platform to analyze biopsy biomarkers using flourescence in situ hybridization (FISH) methods.
In a statement, Anthony M. Magliocco, MD, FRCPC, FCAP, Co-Founder and President of Protean BioDiagnostics, Inc, had the following to offer:
Unlike other liquid biopsy services, Biocept’s pathology partnership service enables me to incorporate cutting-edge liquid biopsy technology into my practice so I can remain closely connected to the laboratory results supporting the care of our patients with cancer.
I am looking forward to evaluating the Company’s expanded service capabilities to potentially yield more information about our patients’ disease, and the ability to personalize treatment based on the dynamic biomarker information that can be obtained from a liquid biopsy.
The above statement was followed up by Edwin Hendrick, CCO at BIOC. Here’s what he had to say:
We are extremely pleased to begin offering our enhanced EmpowerTC v2.0 service to our customers, as these new tools and technologies are designed to enable local pathologists access to liquid biopsy and the ability to remain in the continuum of care with their patients.
We believe that our pathology partnership platform distinguishes Biocept from other liquid biopsy services, and we plan to continue to innovate and launch additional markers to expand this service further in the future.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that it’s important to follow the news closely. After all, it’s the news that leads to moves in the market. When it comes to Biocept, the news proved to be overwhelmingly positive.
With the expanded platform, the company now has a stronger offering for potential partners. As a result, we will likely see expanded use of the platform, opening the door to revenue opportunities.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:36), BIOC is trading at $0.83 per share after a gain of $0.083 per share or 7.03% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BIOC. In particular, we’re interested in following the story surrounding the company’s continued work to expand the use of its proprietary technology across the medical market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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